Intuit Inc. (NASDAQ:INTU) Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,763 shares of the software maker's stock after purchasing an additional 24,992 shares during the quarter. Intuit makes up 1.3% of Vontobel Holding Ltd.'s holdings, making the stock its 23rd largest position. Vontobel Holding Ltd. owned 0.21% of Intuit worth $355,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in INTU. Vanguard Group Inc. increased its position in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares in the last quarter. Wellington Management Group LLP grew its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Norges Bank acquired a new position in Intuit during the 4th quarter valued at about $2,290,419,000. Finally, Northern Trust Corp raised its stake in Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

INTU stock traded down $8.02 during midday trading on Tuesday, hitting $779.61. 1,923,283 shares of the stock traded hands, compared to its average volume of 1,616,037. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $802.00. The stock's fifty day simple moving average is $704.91 and its 200-day simple moving average is $639.06. The firm has a market cap of $217.47 billion, a P/E ratio of 63.28, a PEG ratio of 3.45 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the company posted $9.88 EPS. The business's quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTU. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. CLSA started coverage on shares of Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. Finally, Oppenheimer reissued an "outperform" rating and set a $742.00 price objective (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Intuit has an average rating of "Moderate Buy" and an average price target of $793.05.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer owned 197 shares of the company's stock, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,896 shares of company stock worth $204,351,942 in the last three months. 2.68% of the stock is owned by corporate insiders.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.